End of the line at Loudeye

The $60 million that Finland phone giant Nokia today agreed to pay for Loudeye is $12 million less than what the Seattle digital music company raised in its initial public offering six years ago.

And while the $4.50 per share offer is a 154 percent premium over where the stock was trading earlier this week, it comes nowhere near the all-time high of Loudeye’s stock. That split-adjusted price was a whopping $445.62 on March 16, 2000. That means people who bought the stock around the time of the IPO and held onto it for the past six years lost most of their money.

End of the line at Loudeye

The $60 million that Finland phone giant Nokia today agreed to pay for Loudeye is $12 million less than what the Seattle digital music company raised in its initial public offering six years ago.

And while the $4.50 per share offer is a 154 percent premium over where the stock was trading earlier this week, it comes nowhere near the all-time high of Loudeye’s stock. That split-adjusted price was a whopping $445.62 on March 16, 2000. That means people who bought the stock around the time of the IPO and held onto it for the past six years lost most of their money.